Crypto-related job listings up by 395% in 2021; outpace tech industry: LinkedIn

  • The LinkedIn analysis says job postings with titles like “bitcoin,” “ethereum,” “blockchain” and “cryptocurrency” grew 395 per cent in the US from 2020 to 2021, outpacing the wider tech industry that saw a 98 per cent increase in listings during the same period

Livemint
Updated16 Jan 2022
FILE PHOTO: Representations of virtual cryptocurrencies are seen in this illustration taken November 28, 2021. REUTERS/Dado Ruvic
FILE PHOTO: Representations of virtual cryptocurrencies are seen in this illustration taken November 28, 2021. REUTERS/Dado Ruvic(REUTERS)

The global crypto frenzy has reached another level as the industry grows exponentially despite regulatory hurdles in many countries. With a massive rise in the popularity of digital currencies, tokens, and more recently, non-fungible tokens (NFTs), the job market is booming crypt-based job listings skyrocketing.

According to the latest analysis by Microsoft-owned job networking platform LinkedIn, crypto-related job postings in 2021 outpaced all-popular IT and tech jobs industries, pointing to future disruption.

The LinkedIn analysis says job postings with titles containing terms like “bitcoin,” “ethereum,” “blockchain” and “cryptocurrency” grew 395 per cent in the US from 2020 to 2021, outpacing the wider tech industry that saw a 98 per cent increase in listings during the same period.

This trend has not only been seen across software and finance, but in accounting and consulting as well. "While most of the job postings were in software and finance, other industries are also seeing a rise in demand for crypto talent. These include professional services like accounting and consulting, as well as the staffing and computer hardware sectors," the report highlights.

What kind of roles are companies hiring for?

The Linked analysis said some most common titles that companies are hiring for include blockchain developers and engineers.

The hiring demand saw a massive surge in 2021 amid an influx of funding, it said, quoting the PitchBook data that highlighted that investors worldwide poured $30 billion into crypto and blockchain startups in 2021.

At the same time, public interest in crypto also "exploded as high profile evangelists like Elon Musk praised the technology — and crypto companies entered the mainstream, as evidenced by the newly-christened Crypto.com Arena in Los Angeles, the report suggests.

The LinkedIn report says despite the burgeoning growth of the wider industry, some experts have expressed "scepticism" around the long-term utility of the technology and claim that "crypto is a bubble".

Meanwhile in India, the crypto industry is seeing both the best of times and the worst of times. Though homegrown crypto-related companies are cashing in on the massive popularity of the digital currency, the regulatory uncertainty continues to linger as India is yet to finalise its crypto policy.

Despite these regulatory hurdles, India ranks second in cryptocurrency adoption, behind only Vietnam, the 2021 Global Crypto Adoption Index shows. The Indian cryptocurrency market is expected to touch $241 million by 2030, says a study by Nasscom and the crypto exchange WazirX.

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